MasterCard-ownedonline payments gateway DataCash has added
Chinese third-party payment platform Alipay to its international
payment solution.
The partnership will enable DataCash merchants
to accept payments through Alipay users, tapping into China’s
e-commerce market, estimated to be worth over USD120 billion.
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Alipay, a subsidiary of the
Alibaba Group, was given permission from Chinese authorities
to process online investment fund payments in May this year. The
company says it already serves over 460,000 online retailers.
“In addition to our work with Alipay, we
are growing DataCash and MasterCard’s relationship in Japan with
Japan Credit Bureau (JCB). These kinds of relationships are
important for the growth of our payment processing business and
increasing geographical footprint.” DataCash president Ajay Bhalla
said.
“Doing business in China represents the
future, and our technology is helping international companies
extend their reach in this exciting new market,” he said.
According to Boston Consultancy Group data
China has over 193 million online shoppers compared to 170 million
in the US, more than double the number in Japan and five times that
of the UK. By 2015, the size of China’s e-commerce market is
expected to rival that of the US, with e-commerce accounting for as
much as eight per cent of the total Chinese retail market.
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